MIRA INFORM REPORT
|
Report No. : |
342173 |
|
Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PMC RUBBER CHEMICALS INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
PRIMEROSE CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
103, G.T. Road (West), P.S. Rishra, District Hooghly – 712248, West
Bengal |
|
Tel. No.: |
91-33-26722515/ 26724734 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.11.2005 |
|
|
|
|
Com. Reg. No.: |
21-106272 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.247.441 Million |
|
|
|
|
IEC No.: |
0205028781 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299WB2005PTC106272 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP7639J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Exporter of Rubber Chemicals and Alike Products. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 2005 having
moderate track. The rating takes into consideration continuous losses incurred by the
company which has further resulted into deterioration of reserves. Their trade relations are reported as fair. Business is active.
Payments terms are reported slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = B |
|
Rating Explanation |
High risk of default |
|
Date |
08.09.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
08.09.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Utpal Sen |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-9674155101 |
|
Date : |
19.09.2015 |
LOCATIONS
|
Registered Office/ Factory: |
103, G.T. Road (West), P.S. Rishra, District Hooghly, Hooghly –
712248, West Bengal, India |
|
Tel. No.: |
91-33-26722515/ 26724734 |
|
Mobile No.: |
91-9674155101 (Mr. Utpal Sen) |
|
Fax No.: |
91-33-26721552 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Address : |
Flat No.8, 3rd Floor, Vijay Deluxe Apartment, 7 1st
Main Road, CIT Colony, |
DIRECTORS
As on 30.09.2014
|
Name : |
Dr. Paritosh Mohan Chakrabarty |
|
Designation : |
Director |
|
Address : |
710 Yorktownlane, Moorestown, 08057, United State of America |
|
Date of Birth/Age : |
01.04.1940 |
|
Date of Appointment : |
28.12.2005 |
|
DIN No.: |
00819204 |
|
|
|
|
Name : |
Mr. Christian C.H.M. Reuland |
|
Designation : |
Director |
|
Address : |
1A, Chemin Landaise 7501-ORCQ, |
|
Date of Birth/Age : |
27.10.1950 |
|
Date of Appointment : |
28.12.2005 |
|
DIN No.: |
01206701 |
|
|
|
|
Name : |
Mr. Rajaram R M |
|
Designation : |
Director |
|
Address : |
H2/E-123, |
|
Date of Birth/Age : |
15.03.1946 |
|
Date of Appointment : |
22.12.2005 |
|
DIN No.: |
00161064 |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. Utpal Sen |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
PMC Group |
|
2022015 |
|
PMC Chemicals India Private Limited, |
|
1644450 |
|
Total |
|
3666465 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
PMC Group |
|
2107763 |
|
Total |
|
2107763 |
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
55.15 |
|
Bodies corporate |
44.85 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporter of Rubber Chemicals and Alike Products. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
Notes: Long Term Borrowings Terms of
repayment/ conversion The Company on 3 January 2006 had issued one Zero Coupon unsecured Debenture of the face value of Rs.59.850 Million. These debentures were redeemable at the end of 10 (ten) years at face value. These debentures were convertible at the option of the debenture holders, into equity shares of face value of Rs.10 (Rupees ten) each at a conversion price of Rs.92.87 (Rupees ninety two and eighty seven paisa). During the current year, the holder has opted for conversion into equity shares and accordingly the Company has converted the above debentures into 644,450 equity shares of Rs.10/- each and balance Rs.53.406 Million were credited to securities premium account. Short Term Borrowings Details
of security I. Working capital loan from State Bank of
India amounting to Rs.339.045 Million (previous year: Rs.353.513 Million) is
secured by first charge of hypothecation on entire stock of inventory,
receivables, bills and other chargeable current assets of the firm both
present and future. Equitable mortgage over Company land and building situated at: a) All the piece and parcel of Rayata
Swattiya land measuring 7.720 acres situated in Mouza Konnagar JL No 7, Touji
No 3876, 3989 and 304 B1 Howrah, Revenue to 31/03/2014 survey No1759, being
Holding No. 19/A, J.N.B) Sarani ward No. 4 under Konnagar Municipality area
and Holding No 6, N S Road Ward No. 2 under Konnagar Municipality area, P. S.
Uttarpara, District Hooghly, registered at ADSR office Serampore.c) Land
measuring 7.72 Acres 28000 sq. ft. of asbestos shed factory area under Deed
No. I-06542/07. d) All the piece and parcel of Rayata
Swattiya land measuring 30.051 acres situated in Rishra, J L No 27 Touji No.
3876, 989 and 28 B2, Revenue Survey No. 1757, being holding No. 19 S. C. Bose
Lane.e) Under Ward No. 14 under Rishra Municipality area and Holding No. 103
GT Road (West) Ward No 15 under Rishra Municipality area under PS Serampore
(Now Rishra) District Hooghly registered at ADSR.f) Office Serampore. Total
land measuring to 31/03/2014 30.051 acre area with 8000 sq. ft. of asbestos
shed factory area and 13120 sq. ft. pucca building area under deed No.
I-6543/07.II. Working capital loan from Hongkong and Shanghai Banking Corporation
Limited, India amounting to Rs Nil (previous year: Rs.21.240 Million) was
secured by the stand by letter of credit from Hongkong and Shanghai Banking
Corporation Limited, France. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSRR and Company Chartered Accountants |
|
Address : |
Godrej Waterside Unit No. 603/604, 6th Floor, Tower 1, Plot No.5, Block DP Sector V, Salt Lake , Kolkata-700091, West Bengal, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAKFB1884H |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
|
|
|
|
|
Enterprises which
are owned, or have
significant influence of or are
partners with Key
management: personnel and their
relatives |
|
|
|
|
|
Ultimate Holding
Company : |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Million |
|
2250000 |
Preference Shares |
Rs.100/- each |
Rs.225.000 Million |
|
|
Total |
|
Rs.300.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3666465 |
Equity Shares |
Rs.10/- each |
Rs.36.665
Million |
|
2107763 |
Preference Shares |
Rs.100/-
each |
Rs.210.776
Million |
|
|
Total |
|
Rs.247.441 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
247.441 |
30.220 |
30.220 |
|
(b) Reserves & Surplus |
60.429 |
197.960 |
315.924 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
307.870 |
228.180 |
346.144 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.114 |
60.285 |
59.850 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
10.445 |
9.120 |
0.000 |
|
(d) long-term
provisions |
5.472 |
5.758 |
0.000 |
|
Total Non-current
Liabilities (3) |
16.031 |
75.163 |
59.850 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
356.615 |
390.653 |
307.616 |
|
(b) Trade
payables |
137.618 |
231.644 |
154.932 |
|
(c) Other current
liabilities |
53.963 |
69.341 |
106.462 |
|
(d) Short-term
provisions |
1.653 |
4.607 |
31.451 |
|
Total Current
Liabilities (4) |
549.849 |
696.245 |
600.461 |
|
|
|
|
|
|
TOTAL |
873.750 |
999.588 |
1006.455 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
247.163 |
265.384 |
190.413 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
26.058 |
64.220 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.445 |
5.445 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
56.968 |
6.638 |
|
(d) Long-term Loan and Advances |
23.055 |
18.128 |
1.854 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.572 |
|
Total Non-Current
Assets |
275.663 |
371.983 |
263.697 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
5.445 |
|
(b)
Inventories |
235.648 |
250.857 |
316.052 |
|
(c) Trade
receivables |
278.661 |
249.210 |
290.821 |
|
(d) Cash
and cash equivalents |
38.666 |
55.419 |
42.238 |
|
(e)
Short-term loans and advances |
41.231 |
70.858 |
88.202 |
|
(f) Other
current assets |
3.881 |
1.261 |
0.000 |
|
Total
Current Assets |
598.087 |
627.605 |
742.758 |
|
|
|
|
|
|
TOTAL |
873.750 |
999.588 |
1006.455 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
936.315 |
1411.387 |
1177.991 |
|
|
|
|
Other Income |
23.111 |
106.520 |
15.772 |
|
|
|
|
TOTAL |
959.426 |
1517.907 |
1193.763 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
1,090.432 |
1659.604 |
1168.842 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(131.006) |
(141.697) |
24.921 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
55.754 |
(46.281) |
7.678 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(186.790) |
(95.416) |
17.243 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(60.013) |
35.403 |
18.160 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
(246.773) |
(60.013) |
35.403 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
63.088 |
85.416 |
41.539 |
|
|
|
TOTAL EARNINGS |
63.088 |
85.416 |
41.539 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
549.624 |
750.539 |
616.779 |
|
|
|
TOTAL IMPORTS |
549.624 |
750.539 |
616.779 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
(61.58) |
(31.57) |
5.71 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
0.289 |
0.000 |
|
Cash generated from operations |
(100752) |
165.891 |
NA |
|
Net cash flow from operating activity |
(137.272) |
(5841) |
(74.791) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(19.95) |
(6.76) |
1.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.09) |
(15.55) |
2.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.43) |
(0.62) |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.16 |
1.98 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
0.90 |
1.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
30.22 |
30.22 |
247.441 |
|
Reserves & Surplus |
315.924 |
197.96 |
60.429 |
|
Net
worth |
346.144 |
228.180 |
307.870 |
|
long-term borrowings |
59.85 |
60.285 |
0.114 |
|
Short term borrowings |
307.616 |
390.653 |
356.615 |
|
Total
borrowings |
367.466 |
450.938 |
356.729 |
|
Debt/Equity
ratio |
1.062 |
1.976 |
1.159 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1177.991 |
1411.387 |
936.315 |
|
|
|
19.813 |
(33.660) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1177.991 |
1411.387 |
936.315 |
|
Profit/ (Loss) |
17.243 |
(95.416) |
(186.790) |
|
|
1.46% |
(6.76%) |
(19.95%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY
OVERVIEW
The Company was incorporated on 23 November 2005 as Primerose Chemicals Private Limited. In pursuance of a business transfer agreement dated 14 November 2005, the rubber chemicals business of erstwhile ICI India Limited (ICI) was transferred as a going concern basis to PMCRC with effect from 28 December 2005. As of 28 December 2005 PMC Group France SARL (PMC France) held 51% shares in PMCRC and remaining 49% shares were held by ICI India Limited. On 3 July 2008, PMC France acquired remaining shares of PMCRC from ICI through its subsidiary PMC Chemicals India Private Limited (PMCC).
PERFORMANCE
REVIEW
During the period, cost and expenses increased but the same are not comparable with the previous year of fifteen months period. The Company posted loss of Rs.186.760 Million after adjustment of deferred tax charge.
UNSECURED LOAN
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Zero Coupon Debenture |
|
|
|
PMC Chemicals India Private Limited - a fellow subsidiary |
0.000 |
59.850 |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee loans From Others |
|
|
|
PMC Group France
SARL – Holding Company (Interest free
loan repayable on demand) |
17.570 |
15.901 |
|
Total |
17.570 |
75.751 |
INDEX
OF CHARGES
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10167713 |
22/03/2012 * |
460,000,000.00 |
State Bank Of India |
Sme Branch, Howrah, 9, G. T. Road (South), Howrah, West Bengal - 711101, India |
B36941904 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.62 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.